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Anter the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019. unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. Cretit Debit $ 38,564 13,318 2,645 2,840 3,220 8,700 $ 2e,Bee NO Arct Title 101 Cash 561 Accounts receivable 126 Computer supplies 228 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation-office equipment 167 Computer equipment 168 Accumulated depreciation Computer equipment 201 Accounts payable 21e Wages payable 236 nearned computer services revenue 3e1 5 Rey, Capital 3e2 5. Rey. Withdrawals Computer services revenue 612 Depreciation expense-office equipment 51 Depreciation expense-computer equipment 623 wages expense 532 Insurance expense 540 Rent expense 652 Computer supplies expense 655 Advertising expense 576 Mileage expense Miscellaneous expenses 64 Repairs expense-Computer Total 71,600 5,900 29,654 2,158 8 1,698 784 170 745 $104,654 $100.654 Business Solutions had the following transactions and events in December 2019. a su cash to H:11:ide all for Business Solutions share of mali svertisine con P $10 cash for minor repairs to the company computer Received 14.05 cash from Alex's Engineering co for the receivable inom November TO Pad cath to Lyn Addio for six day of work at the rate of $115 per day 14 horaffed by Alex Engineering to that suci. Solution bad of on a proposed project has been accepted. Alex's Past advance to slution 15. Purchase of controles ned for faced 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 20 Completed a project for Lu Corporation and received 35,875 cash. 22- Took the week off for the holidays. 26 28 Received $3,200 cash from Gomez Co, on its receivable. 29 Reimbursed s. Rey for business automobile mileage (400 miles at se.27 per mile) 31 S. Rey withdrew $1,5ee cash from the company for personal use. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 inventory count of computer supplies shows $670 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Lyn Addie has not been paid for four days of work at $115 per day d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value 1. Three of the four months' prepaid rent have expired. Required: 1. Prepare Journal entries to record each of the December transactions and events for Business Solutions, 2-o. Prepare adjusting entries to reflect a through 2.b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger. 3. Prepare an adjusted trial balance as of December 31, 2019. 4. Prepare an income statement for the three months ended December 31, 2019, 5. Prepare a statement of owner's equity for the three months ended December 31, 2019. 6. Prepare a balance sheet as of December 31, 2019. Answer is not complete. Complete this question by entering your answers in the tabs below. Anter the success of the company's first two months, Santana Rey continues to operate Business Solutions. The November 30, 2019. unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2019) follows. Cretit Debit $ 38,564 13,318 2,645 2,840 3,220 8,700 $ 2e,Bee NO Arct Title 101 Cash 561 Accounts receivable 126 Computer supplies 228 Prepaid insurance 131 Prepaid rent 163 Office equipment 164 Accumulated depreciation-office equipment 167 Computer equipment 168 Accumulated depreciation Computer equipment 201 Accounts payable 21e Wages payable 236 nearned computer services revenue 3e1 5 Rey, Capital 3e2 5. Rey. Withdrawals Computer services revenue 612 Depreciation expense-office equipment 51 Depreciation expense-computer equipment 623 wages expense 532 Insurance expense 540 Rent expense 652 Computer supplies expense 655 Advertising expense 576 Mileage expense Miscellaneous expenses 64 Repairs expense-Computer Total 71,600 5,900 29,654 2,158 8 1,698 784 170 745 $104,654 $100.654 Business Solutions had the following transactions and events in December 2019. a su cash to H:11:ide all for Business Solutions share of mali svertisine con P $10 cash for minor repairs to the company computer Received 14.05 cash from Alex's Engineering co for the receivable inom November TO Pad cath to Lyn Addio for six day of work at the rate of $115 per day 14 horaffed by Alex Engineering to that suci. Solution bad of on a proposed project has been accepted. Alex's Past advance to slution 15. Purchase of controles ned for faced 16 Sent a reminder to Gomez Co. to pay the fee for services recorded on November 8. 20 Completed a project for Lu Corporation and received 35,875 cash. 22- Took the week off for the holidays. 26 28 Received $3,200 cash from Gomez Co, on its receivable. 29 Reimbursed s. Rey for business automobile mileage (400 miles at se.27 per mile) 31 S. Rey withdrew $1,5ee cash from the company for personal use. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 inventory count of computer supplies shows $670 still available. b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Lyn Addie has not been paid for four days of work at $115 per day d. The computer system, acquired on October 1, is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1, is expected to have a five-year life with no salvage value 1. Three of the four months' prepaid rent have expired. Required: 1. Prepare Journal entries to record each of the December transactions and events for Business Solutions, 2-o. Prepare adjusting entries to reflect a through 2.b. Post the journal entries to record each of the December transactions, adjusting entries to the accounts in the ledger. 3. Prepare an adjusted trial balance as of December 31, 2019. 4. Prepare an income statement for the three months ended December 31, 2019, 5. Prepare a statement of owner's equity for the three months ended December 31, 2019. 6. Prepare a balance sheet as of December 31, 2019. Answer is not complete. Complete this question by entering your answers in the tabs below

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